ING Direct is the first online bank in United States. It offers financial products such as the refinancing of a simple mortgage and not a repurchase of mortgage loans. Refinancing a mortgage is a solution that benefits households having acquired one or more real estate and wishing to reassess the financing conditions of the loan . In principle, this approach reduces the amount of monthly payments and therefore lightens the burden on households. In the end, there is only one monthly payment left at a single interest rate as well. However, the repayment term is extended. In order to obtain a personalized mortgage refinancing proposal , you have the possibility of carrying out a free online simulation. On the ING Direct site, you can access the online simulator in two ways:
- Either go directly to the bottom of the home page to access the ING DIrect simulator .
- Either click on “Our products” then on “ Mortgage loan ” from the orange drop-down menu:
Extract from the official website ingdirect.fr
You access a page relating to the conditions of access to ING direct mortgage loans . Scroll down to the bottom of this page to access the online simulator:
Select the option “ I want to redeem my loan ”. A form to complete is displayed. It concerns the important information concerning your mortgage: “ outstanding capital “, “ remaining term of the current credit “, “ current monthly payment ”, “ nominal rate of the current credit ”, “ estimate of IRAs “. In addition, a last question invites you to enter the “ desired duration for the end of the credit ”
The amount of outstanding principal must be between $ 80,000 and $ 1,500,000 .
The borrower must be of legal age and 63 years of age . Do not forget to indicate a co-borrower if necessary. The same age constraints also apply for this co-borrower.
Note that IRAs are compensation or penalties for early repayment or renegotiation of a mortgage. Since July 1, 1991, early repayment indemnities are not required in the event of loss of employment, sale of the property or death.
When all the information is completed, click on “ I take this opportunity ” to validate the form.
A warning may appear even before the form is validated. It alerts you to the fact that your financial situation does not require the use of a mortgage repurchase (eg: when the remaining term of the current credit is less than 5 years ...)
Below is an example of a completed table and a first takeover offer from ING Direct:
By clicking on “ make a request ” at the end of the previous table, you reach other tables, the first of which seeks to determine the type of credit you want ( house purchase, apartment purchase or credit redemption ). Click on the third option “ credit redemption ”. Indicate if the loan application is done alone or in pairs. Then click on the orange “ Start ” button.
You must then provide personal information about your marital status and contact details. Do not forget to tick the box certifying that you agree to be contacted by an ING Direct advisor, then click on “ Continue ”.
You will have to say more about your project; if it is a primary or secondary residence , etc. (the type of use of the property). Once the table is complete, click on “Continue” .
Note that ING Direct only finances goods purchased in full ownership .
As a reminder, the group does not practice real estate loan consolidation but only the refinancing of your mortgage.
Indicate all the income you receive in this third table entitled “ your income ”:
In this table “ Your expenses and your assets ”, do not mention the mortgage that you want to redeem in your expenses. Regarding your real estate assets, only mention the property for which the loan application is made .
This table relating to borrower insurance informs you about the advantages of subscribing to borrower insurance. This is not compulsory but is strongly recommended to deal with difficult situations ( unemployment, disability, etc. ). You must tick the boxes “ I have read the insurance conditions and the application of guarantees ” and “ I am of legal age and certify that I have read the general conditions of the ING Direct mortgage loan contract “. Click on “ See my financing offer “.
Finally, you discover the ING Direct buyback offer. In this example, you even have the nominal rate , the total cost of insurance, and the amount of warranty fees .
Note that this offer has no contractual value . It must be the subject of an in-depth study with an ING Direct financial expert and their partners CNP and Crédit Logement. These professionals will study your file (veracity of your declarations and supporting documents) and will provide you with an official offer .